Bike & eBike
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ArticleLeatt Q1 sales continue to decline, but inventories normalize
After a sales boom during the pandemic years, the shares of the South African manufacturer of protective equipment for motorized and non-motorized off-road two-wheelers Leatt Corporation (traded OTC in the US), like many others, have experienced a “down-to-earth” development in the post-Covid period. This continued in the first quarter of ...
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News briefsGiant Group says stock overhang also weighs on Q1 sales results
The ongoing strained situation in the bicycle industry also has an impact on the sales results of the leading Taiwanese bicycle manufacturer Giant Manufacturing Company Ltd in the first quarter of 2024. The continued large-scale reduction in inventories in Europe and North America and the reluctance to place orders on ...
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News briefsGiant expands own-store network in Spain
According to CMDsport, Giant has opened a fifth own-store in Spain. This one covers 500 square meters, boasts a section devoted to women’s cycling and is situated in the island capital of Santa Cruz de Tenerife. The brand believes it is sure to become a flagship in Spain, like its ...
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ArticleVista Outdoor weighs buyout offer, reports Q4 results
The board of Vista Outdoor continues to recommend the sale of its The Kinetic Group to Czech group CSG, which would pay shareholders $12.90 a share in cash and one share in its Revelyst spin-off. However, the company will conduct a special meeting on June 14 to consider another buyout ...
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News briefsRose Bikes expands service network to over 130 partner workshops in DACH
Rose Bikes is strategically expanding its stationary network of partner workshops. The German company is entering into a cooperation with Verbund Service und Fahrrad (VSF), one of the largest stationary networks in Germany’s industry, and is successively adding VSF-allride certified workshops to its service portfolio. In addition to its nine ...
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ArticleGoPro says turnaround will take more time as Q1 loss widens
GoPro’s Q1 revenues exceeded its guidance, but the operating loss increased for the period ended March 31. Founder and CEO Nicholas Woodman said the company is making progress on its multi-year strategy. Still, he urged investors to be patient as GoPro continues investing in a broader product line and retail ...
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News briefsOrbea’s revenue down for the first time in 8 years
Orbea closed out full-year 2023 with its first drop in revenues in eight years, according to Palco23. Although the Basque cycling brand does not disclose them in full, sales appear to have come in at around €374.4 million, down by 6.4 percent from the previous year’s €400 million or so. ...
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ArticleDespite difficult times, Bike24 looks to a brighter future
Although 2024 got off to a challenging start in a persistently uncertain economic environment, Bike24 Holding AG, the German e-commerce retailer for cycling, running and swimming sports, expects a return to growth with improved profitability. “In the current macroeconomic environment, we have made a satisfactory start to 2024,” said Bike24 ...
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ArticleWolfbike effects a shift to distribution
Business has been brutal as of late for Wolfbike, according to CMDsport. The manufacturer of bicycles has been operating in Valencia, Spain, for 14 years and has in that time put together a catalogue of 180 models. Because of the cycling industry’s boom and bust since the lockdowns, however, the ...
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ArticleAcquisition of Marucci cushions decline in Fox Factory's SSG bike product sales
Suspension specialist Fox Factory Holding Corp. announced that the company met expectations with a 16.6 percent decline in sales in the first quarter (compared to Q1 2023) to $333.47 million (€309.91m): all three of Fox Factory’s divisions suffered sales declines. The total Q1 sales can be divided into: Powered ...
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News briefsThe mountain bike market is projected to post 5.4% CAGR by 2027
According to a new report by tech research firm Technavio, the global mountain bike market is estimated to expand at a compound annual growth rate (CAGR) of over 5.4 percent from 2023 to 2027, with a growing emphasis on innovation and customer awareness. Electric mountain bikes (eMTBs) are gaining popularity. ...
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News briefsCEO of Merida R&D Center resigns
Source: Merida R&D Center GmbH Jürgen Falke After more than 20 years of helping build up the Merida R&D Center GmbH (MRD) based in Magstadt, Germany, and playing a key role in several of its achievements, Jürgen Falke stepped down as CEO of the Merida development department ...
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ArticleOICompass supports POW initiative: Promoting a sustainable future in EU elections
Discover how POW Europe is mobilizing the outdoor industry to promote sustainable policies in the upcoming EU elections.
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News briefsZyroFisher appoints Chief Commercial Officer
ZyroFisher, a UK-based distributor of sports and lifestyle brands, has announced the appointment of Nadine Thompson as Chief Commercial Officer. In a career spanning more than 20 years, Thompson has held senior positions with multinational companies such as Procter & Gamble and Pentland Brands and has maintained close relationships with ...
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News briefsAmer sells its Enve bicycle brand
Amer Sports is selling US-based Enve Composites, a manufacturer of carbon bicycle frames, wheels and components, and more recently cycling apparel, to Utah-based private investment firm PV3, led by entrepreneur and cycling enthusiast Mark Hancock, for an undisclosed price. The deal is expected to close in the coming weeks. Enve’s ...
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ArticleThule’s Q1 results benefit from bicycle market recovery
In its Q4 report for 2023, transport system provider Thule Group AB stated that it was already experiencing “the first signs of an improvement in the tense market situation.” The first quarterly report of the current 2024 financial year proves that the Swedes were not mistaken: They have made a ...
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ArticleMips with good start into 2024 on the back of bike market recovery
For the first time, the slump in the bicycle market was no longer the main reason for the decline in sales in Mips’ Q1 2024 earnings report, as was previously the case. Not the subcategory “Bicycle,” but the subcategory “Snow” was the main driver of the 6 percent decline in ...
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ArticleStrava appoints new CPO and CTO
Strava, the connected fitness subscription platform with more than 125 million athletes, has appointed two new executives: Matt Salazar as Chief Product Officer and Rob Terrell as Chief Technology Officer. Both bring extensive experience in successfully scaling global product portfolios, leading organizations through integral growth phases and cultivating high-growth communities. ...
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ArticleShimano value sales down double-digit in Q1
Even during the bicycle boom in the Covid years, the world’s leading bicycle component manufacturer Shimano Inc. repeatedly stepped on the brakes in its outlook for the time after the pandemic. At least the sales figures for the first quarter of 2024 show that the Japanese company was not so ...
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ArticleVista Outdoor leaves option open to sell to MNC for higher price
The uncertainty surrounding the future of Vista Outdoor, respectively Revelyst and The Kinetic Group, continues as the company officially confirmed on April 22 that it has resumed negotiations with Montréal-based MNC Capital in connection with the unsolicited expression of interest dated March 25, 2024, in which MNC indicated it was ...
